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Technology Stocks : Newbridge Networks
NN 11.97+5.4%3:59 PM EST
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To: Dennis R. Duke who wrote (7402)11/17/1998 11:41:00 AM
From: Serge Collins  Read Replies (2) of 18016
 
My take on the Fed and interest rates is this: If the Fed cuts, the markets will pop but soon selloff on profit-taking. The rally will be sustained for a few more weeks after this initial selloff. If the Fed doesn't cut, we will get a sharp selloff followed by a rebound and then trade sideways for a while.

There is no doubt that the Fed would like to cut rates to further stabilize things, but Greenspan must be getting worried again about "irrational exuberance". I think this will way on the Fed's decision but if my scenario plays itself out, it won't matter one way or the other. Therefore, the Fed should cut rates to help Asia and other parts of the world, as well as domestic financials, to further dig themselves out of their mess.

Just my opinion.
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